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NOMINAL PRODUCTION: The market value of all production measured in current, actual prices. Nominal production is typically measured with nominal GDP.
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SIXTH RULE OF IGNORANCE The sixth of seven basic rules of the economy, stating that obtaining information is a costly activity that requires resources with alternative uses. As such, no one knows everything and everyone is ignorant about something.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for jovial bank tellers.
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More money is spent on gardening than on any other hobby.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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IV
Instrumental Variables
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